Shares of Power Grid Corporation of India were rising on Wednesday after the state-run energy firm won a power contract in Rajasthan.
What Happened: Power Grid Corporation of India secured a 20-gigawatt project to enhance the transmission of electricity in Rajasthan.
The project aims to facilitate the transfer of power generated from renewable sources in Rajasthan to other areas. The official confirmation for this project was received on September 4.
To achieve this, the project involves the establishment of a new electrical substation and the construction of power lines. These power lines will act as pathways for transporting electricity from where it’s generated to where it’s needed within Rajasthan.
Price Action: Power Grid’s share price was up 0.45% at ₹255.45 at market open on Wednesday.
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